March 28, 2020
Automotive steer-by-wire Systems

Automotive steer-by-wire Systems Market | Asia Pacific is expected to remain high over the forecast period

The global automotive steer-by-wire systems market is expected to grow at a CAGR of 23.4% over 2018 -2026.

Market Insights

The steering system of the vehicle is responsible for turning the vehicle in the desired direction by connecting the components and the couplings. Steer-by-wire (SBW) systems have emerged as a promising next generation automotive steering system. Depends on electrical or electro-mechanical systems to perform a steering function. It further facilitates better control of the steering as it depends on the electronic control system. SBW replaces traditional mechanical steering column connections with steering assist motors, electronic control units and sensors. Nissan is one of the first car manufacturers to have introduced SBW systems in their cars.

Access Sample Copy of This Report Here: https://www.credenceresearch.com/sample-request/58954

The automotive steer-by-wire systems have gained increased adoption in vehicles as a result of the benefits it renders. Various benefits associated with automotive steer-by-wire systems include:

• Better configuration of a vehicle’s steering functionality
• Offers better design flexibility for a vehicle
• Improved human-machine interface
• Better fuel efficiency
• Reduced vibration and thereby providing a comfortable ride
• Reduced weight due to elimination of mechanical linkages

One of the most important factors contributing to the growth of the automotive steer-by-wire systems market is the increasing demand for automation in cars, along with the growing prospects for driverless cars. In addition, the increasing focus on the part of manufacturers on the design and development of fuel-efficient cars is another important factor that complements market growth. Several OEMs have introduced automotive steer-by-wire systems in vehicles to improve operational efficiency and fuel economy. These systems are mainly popular with plug-in electric vehicles. Increased demand for plug-in electric vehicles is therefore another important factor contributing to the growth of the automotive steer-by-wire systems market.

However, major factor limiting the automotive steer-by-wire systems market growth is reluctance of people towards adopting new technology. SBW technology is still in its nascent stage and may experience considerable delay in gaining consumers’ confidence. In addition, high cost is offsetting the demand for these systems, thereby limiting its usage. Vulnerability to hacking is another prominent factor impacting the market growth negatively.

Access Sample Copy of This Report Here: https://www.credenceresearch.com/sample-request/58954

Leave a Reply

Your email address will not be published. Required fields are marked *